Finish your week strong with updates on the latest leadership changes, strategy shifts, and spending reports. We’re highlighting actionable opportunities for you to pursue now, what more could you ask for?
These insights are provided by our team of WinmoEdge experts that create daily updates on industry news to keep you in the know and winning more business. This report includes a “Told Ya” follow up to demonstrate the timeliness and accuracy of our data.
WinmoEdge translates industry shifts into quick reads you can act on. If you find this information helpful for you and your team, don’t hesitate to request a Winmo demo for more stories just like these.
Retailer JCPenney has been a story of shifts recently with the announcement that CMO Marci Grebstein will step down in February, following other executive shifts prior to this move. JCP named a new CEO three months ago and is currently on the hunt for a chief customer officer.
Agency Opportunity: As you know, the changes are an effort to combat struggles for the retailer. The hire of a new CMO will present opportunity for agencies with a predicted review on the horizon.
Media opportunity: Since reviews tend to follow each other, this also presents itself as a media opportunity to watch. Media has been out of OMD for years, and digital is split between R/GA and WP Narrative. CEO Jill Soltau reported in a recent earning call JCP’s main focus is finding what demographic to target and the best way to do so. Typically engaging with the Gen-X and boomer audience, JCP may switch targets with their evolving marketing strategy.
A rise in spend has occurred across all channels excluding print and radio, which declined in recent months. Spend will continue to increase in an attempt to overcome the company’s rough period. Don’t hesitate to reach out, and keep them on your radar for Q2 and Q4 when spend is typically highest.
Update:
Agency & Martech Opportunity: JCPenny found a replacement for recently-departed CMO Marci Grebstein, but its not another CMO. The brand hired Shawn Gensch as its first EVP and chief customer officer, effective June 3, 2019. This hire was followed by other lower-level shifts, signaling agency reviews within the next 3-6 months. Agency and martech readers are encouraged to reach out for work. Focus pitches on helping JCP combat continued struggles, and engage a younger audience.
Media Opportunity: Sellers with the ability to reverse struggles through an omnichannel approach are encouraged to reach out as well. Keep in mind highest spending periods are typically Q2 and Q4.
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Agency Opportunity: Our WinmoEdge team of experts is known for the timeliness and accuracy of their predictions. Following their update in November 2018, Harley-Davidson is now in the middle of a creative review after hiring SVP and CMO Heather Malenshek. We’re taking this as a moment to say “told ya” that a review was imminent.
Some sources report that the finalists in the current creative review include Droga5, Deutsch LA, and R/GA but as always we’ll keep you updated as we know more. The agency chosen will be responsible for expanding brand appeal, and reaching different audiences including markets in China and India in the future.
Media Opportunity: With the new agency, a new campaign is predicted as well, so sellers should reach out to stay top-of-mind for work. With other new marketing hires, Harley-Davidson is in a transforming mode in an attempt to reach millennials, women and multicultural demographics. Spend is constant year round, and those with automotive experience in particular are encouraged to reach out.
Update:
Media Opportunity: Harley-Davidson completed its creative review and tapped Droga5 in an effort to bring on new ideas and therefore new customers. Sellers are encouraged to reach out because Droga’s first campaign is slated for later in the year. Harley-Davidson is working to increase engagement among women, along with multicultural audiences and millennials. Keep an eye out for dollars tied to new products also.
Agency Opportunity: Agency and martech readers are encouraged to reach out, particularly those with automotive experience. Reviews tend to follow each other, and we expect an agency shift to occur in 3-6 months. Competition will likely include media AOR since 2016 MullenLowe MediaHub.
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The struggles continue for Ruby Tuesday as they lose another CEO. Ray Blanchette departed in September to take over as CEO of rival TGI Fridays. However, the company did name Jennifer Boyd Harmon as its new CMO, effective June.
Agency Opportunity: These executive shifts were followed by lower-level personnel shifts as well. With changes throughout various positions, agency reviews are likely within the next 3-6 months.
Media Opportunity: Media may have the best luck since Ruby Tuesday is still looking for a replacement for media AOR Horizon, and there are rumors of imminent media reviews. Competition for creative will likely come from MARC USA, who has been on the account since late 2016.
Focus pitches on helping Ruby Tuesday combat declines and stand out from competitors such as TGI Friday’s, Applebee’s and Chili’s. Broadcast is a main channel of focus, and sellers are encouraged to reach out with ways to engage millennial families through omnichannel TV strategies. Planning typically takes place in Q4 and buying in Q3.
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Media Opportunity: Mitsubishi Motors North America tapped Kimberley Gardiner as its first VP and CMO, effective January. Mitsubishi tapped BSSP as its creative, social and digital AOR at the end of 2017 and expanded Amsterdam Worldwide’s role to lead global brand AOR two months later. These relationships are relatively new and likely won’t change. However, media work has been handled by PHD USA since 2004, past the agency tenure of 3-4 years. Mitsubishi will likely shake up strategy to more effectively reach consumers.
Recent shifts include a heavier focus on shifting from TV to digital. This shift resulted in the best sales since 2007, and will likely continue with an increase in spend to support these efforts. Mitsubishi spends year round, with a spike during Q4. Keep in mind their demographic has a male skew, with an increased focus on Hispanic marketing.
Agency Opportunity: As Mitsubishi attempts to increase Hispanic engagement, work for multicultural agencies will become available.. Since 2014, its Hispanic engagement has increased 103%. However, be sure to also focus pitches on how Mitsubishi can combat long-lasting struggles and how to differentiate the company from competitors.
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Looking for more opportunities outside of agency work? Here are three additional opportunities for vendors, media sellers, and sponsorship sellers:
The Kellogg-owned RXBar snack brand named Victor Lee their new CMO, effective January. Previously digital marketing SVP at Hasbro, Lee brings marketing experience to the team that will prove extremely valuable as they look for ways to expand.
Media Opportunity: In an attempt to target a millennial demographic, RXBar invests in TV, digital radio and social media with no particular highest spending period throughout the year. This brand is one to keep on your radar with a reported increase in digital display spend in the past year. According to Adbeat, $305,600 was spent on digital display in the past year, mostly through direct.
Agency Opportunity: With a new CMO hire and continued success, RXBar’s growth is something worth being a part of. We recommend reaching out soon for work with a potential review on the horizon within 6-9 months likely.
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B2B financial service provider Kabbage rolled out its first major national TV campaign, made by Eleven. Founded in 2009, Kabbage has provided over $6 billion of funding to more than 160,000 businesses. The success continued into 2018, which marked the accomplishment of small business access to over $10 million daily.
Media Opportunity: Be on the lookout for work year round, since a period of highest spend has not been established yet. When pitching, keep in mind their demographic is mostly male. According to Adbeat, in the past year, Kabbage has spent $209,800 on digital display.
Agency Opportunity: Our WinmoEdge team doesn’t have a media on record for Kabbage, and with such a quick rate of growth, this could be a necessity in the future. Another reason to be on high alert is several recent hires that signal a potential for and AOR shift.
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Media Opportunity: Electronic Arts concluded its global media review and selected GroupM’s m/SIX, after incumbent since June 2014, Starcom, lost the account early in May. Under the new agency, we are likely to see campaigns launch, so sellers should reach out in order to remain top-of-mind.
Sponsorship Opportunity: EA typically spends the most during Q3 and Q4 due to winter holidays, and also before upcoming games. Channels out focus usually include outdoor, print, radio, experiential and sponsorship. With an expanded marketing team and increases in spend, don’t hesitate to reach out for partnership opportunities since new personnel are likely to evaluate current sponsorship strategies.
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